fwiw....a snippet on PIR from Morgan's monthly Stocks & Rocks, April edition.
Papillon Resources (PIR) Current price $1.22 PT: Under Review PIR announced the commencement of the Fekola Feasibility study during the Mines & Money conference aiming to completion sometime in 2HCY14. PIR’s 5.15Moz Au resource remains one of the most impressive orebodies we’ve seen for a pre-development play. Exploration results at Manankoto Sud about 13km to the North of Fekola look promising and could be a secondary project in the medium term. We continue to like the PIR story – its forecast 300kozpa production rate at costs of ~$600/oz remain some of the lowest forecast costs in the gold sector which will be confirmed in the DFS results due for completion in the 2HCY13 (sic 2HCY14). We maintain that PIR remains a hot-favourite as a takeover target with its large resource and excellent exploration upside.
PIR Price at posting:
$1.32 Sentiment: LT Buy Disclosure: Held
